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In 2020 I had $25,000 property taxes plus state income tax totaled over $35,000 which had been fully deductible. Cutting that to a $10,000 deduction meant paying an extra 10,000 a year in taxes. Which is essentially an extra $800 a month for the people buying the house. I bought more house than I needed because it was a temporary safe place with a good school. Kid ended up not even going there. Property value went down about 120K just because of the salt tax cap directly, and another 80K because of having to sell during covid-ish. So I lost a whole lot of money on that stupid house.

Changing the rules of the game so drastically after people already bought their houses screwed some of us blue state people.

Salt text cap does not apply to businesses, only to individuals. Businesses get to deduct the whole thing because businesses are really really special.

Bad timing for me, any other time it would not have mattered.

Property taxes here in my I’m-almost-retired home just went up from $7K to $8600 so i guess I’ll get hit again with this stupid thing.

Nothing working well in the last decade.